Bitcoin Symbols history – BC, XBT, BTC
Bitcoin founder, Satoshi Nakamoto did not gave any abbreviation for Bitcoin. He did not provide any Bitcoin symbol.
what is Bitcoin?
Bitcoin is just a computer program that connects to other computers (running the same program), and shares a file with them. This file is called the blockchain.
Bitcoin is an open source peer to peer electronic payment protocol mostly used on Internet created by an unknown person named Satoshi Nakamoto.
Bitcoin is a decentralized Cryptocurrency project, so its community or developers have rights to do any changes on Bitcoin.
GitHub – https://github.com/bitcoin/bitcoin
Website – https://bitcoin.org/en/
Forum – https://bitcointalk.org/
Bitcoin Symbols
Most commonly used Bitcoin symbol is BTC. Most of the companies, Exchanges, Magazines, TV channels, Websites uses BTC as symbol to represent Bitcoin.
The symbol BTC looking likely to follow the sound Bitcoin. So people mostly used BTC due to its similarity with BiTCoin.
When Symbol BC ?
BC symbol for Bitcoin was taken from the original Bitcoin Client designed by Satoshi Nakamoto.
Satoshi published the logo design images on Bitcoin.org by confirmed in his bitcointalk post on 24 February 2010.
The BC symbol was designed by Satoshi in the first Bitcoin Client. See below in image at the corner.
When Symbol BTC ?
Bitcointalk forum member “NewLibertyStandard” on 5 February 2010 said in his post on forum ” I propose that we adopt the Thai baht currency symbol, ฿, as the official bitcoin currency symbol and BTC as the official bitcoin three letter currency code ”
Almost all members liked the three letter symbol BTC but everyone was worried about the Thai Baht symbol.
Bitcointalk forum user “bitboy” shared the newly designed Bitcoin logo on Nov. 1, 2010 , with the rendered in its now trademark white and orange, complete with “Rotation: Clockwise 14%,” , see image shown below :
2011
This logo was adopted by everyone and everyone like this one. Still this logo is used everywhere and no change is happened in it until now.
When Symbol XBT ?
Symbol BTC created a problem as it violates the ISO 4217 because it starts with ‘BT’ , which is the country code of Bhutan.
Bhutan doest not use the code “BTC” for any currency but only Bhutan can used “BT” as first letters for code of its currency and others are restricted.
So Bitcoin community started with the new Bitcoin code as ‘XBT’ which was later started using by exchanges like Bitmex, Kraken as Bitcoin currency unit.
But XBT did not get much popularity as most of the Bitcoin community like the BTC code for Bitcoin and they started using BTC as Bitcoin currency unit.
After this Bitcoin got the two currency code as XBT and BTC , both are used to represent Bitcoin currency unit.
So, 1 BC= 1 BTC = 1 XBT = 1 Bitcoin
Also Read : How to start with Bitcoin? Trust No One
